RIM profit soars 59%

Smartphone-maker Research In Motion Limited (RIM) has posted a 58.6% spike in quarterly profit after shipping a record 10 million BlackBerrys.
 
Sales were up 11% to $3.92 billion (€2.73b) as the firm added another 4.4 million new accounts and sold its 75 millionth BlackBerry, RIM announced Wednesday.
 
The revenue breakdown for the quarter ending November 30 was approximately 82% for devices, 14% for service, 2% for software and 2% for other revenue, RIM said.
 
The BlackBerry subscriber base is now approximately 36 million.
 
The result and outlook “clearly reflect the strength of our diversified product portfolio as well as the success of our efforts to expand into broader customer segments and new geographies,” said Jim Balsillie, Co-CEO.
 
Net income for the quarter was $628.4 million up from $396.3 million a year ago,.
 
Revenue for the fourth quarter is expected to be in the range of $4.2-$4.4 billion, with a gross margin of approximately 43.5%.
 
RIM’s Nasdaq stock price rose 12.21% to $71.22 in after-hours trade.

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